USAMEOrono117 & 115 Park Street
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$525,000

2 days ago

117 & 115 Park Street, Orono, ME

House

9 Bed

3 Bath

3385 sqft

--

MLS® 1652216

  • Key Facts
  • Description
  • Map

Key Facts

Type Single Family Residence
Levels Residential
Size 3385 sqft
Garage No
Taxes $6,581
Days Active 1
Lot Size 0.58 acres
Approx. Age 1920
Avg. Price Per Sqft $155
MLS® Number 1652216

Property Address: 117 & 115 Park Street, Orono, ME, 04473

Average square foot calculated using Size range provided by listing agent.

Description

Exceptional income-producing package located just one mile from the University of Maine, offering two fully leased and well-maintained properties in a prime in-town setting. This unique opportunity includes a 2-unit duplex at 117 Park Street (2BR/1BA and 3BR/1BA) along with a 4BR/1BA single-family home at 115 Park Street--ideal for investors seeking strong, consistent cash flow in Orono's high-demand rental market. Extensive capital improvements further enhance long-term value and operational efficiency. At 115 Park Street, updates include a new roof (2024), new boiler (2023), new electrical system (2023), and new appliances (2018). At 117 Park Street, renovations include a complete upstairs gut renovation (2012), full downstairs remodel (2013), new electrical system (2013), new appliances (2013), new vinyl siding and trim (2014), and building envelope upgrades with 1'' foam insulation (2014). These substantial improvements help minimize deferred maintenance and support long-term investment stability. Currently generating 63, 600 in gross annual income, the property delivers immediate cash flow with clear upside potential as rents are brought to market rates. In addition to its proximity to the University of Maine, shopping, dining, and everyday amenities, the property is positioned in an area experiencing continued investment and development--including a recently approved Starbucks location by the local planning board. The Commercial 11:11 zoning permits up to five unrelated occupants per unit--creating the potential for 15+ tenants across three units and offering compelling value-add and future expansion opportunities.
MLS® Number1652216
Laundry LevelLaundry - 1st Floor, Main Level, Laundry - Coin
Central VacNo
FireplaceNo
Acreage0.58
Exterior
GarageNo
Approx. Age1920
BasementInterior, Full, Sump Pump, Unfinished
Driveway11 - 20 Spaces, Gravel, On Site
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 19, 2026List Date
$525,000List Price
  • Commute

Commute

Starting Address
Destination Address
117 & 115 Park Street, Orono, ME

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